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Measures for the number of collaborative engagements and the number of interactions per company are approximate as we do not use the PRI categories for the statistics reported in the Folketrygdfondet ownership report. Please note as well that the proportion of companies engaged with above is based on the number of companies, not their relative market value in the portfolio.
Folketrygdfondet's engagement statistics include only meetings or 1:1 phone conversations with companies in the Norwegian market (athough we often use e-mail and/or letters to arrange a meeting). We do not generally include meetings with IR alone, which comprises much of our dialogue with companies in the other Nordic countries. We also do not generally include participation in roadshows in the statistics or corporate access events involving other investors and sell side analysts. For example, an email followed up with a meeting is logged as a single meeting.
Well-founded strategic priorities are a prerequisite for efficient capital utilisation and profitability over time. That is why we expect the portfolio companies to adopt long-term financial targets and communicate these clearly to the market. We also see this as important for long-term value creation.
In 2019, Folketrygdfondet prioritised dialogue with the managements and/or the board chairs of companies with the greatest potential for improvement.
Folketrygdfondet engaged in 2019 in a collaborative dialogue with other Norwegian investors with companies in industries particularly exposed to climate risk.
Engaged in dialogue with Norwegian companies in the real estate, construction, and transportation sectors.
Beginning in 2018, Folketrygdfondet engaged in a collaborative dialogue with other Norwegian investors with companies in industries particularly exposed to climate risk.
During 2018, Folketrygdfondet met with companies in the energy, oil service, materials and consumer staples industries to learn how they identify and assess climate risk. We observed several examples of improvement in 2019.